NIKE, Inc. (NYSE:NKE) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management lowered its stake in NIKE, Inc. (NYSE:NKE) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,060 shares of the footwear maker’s stock after selling 398 shares during the quarter. NIKE comprises about 1.0% of Sheets Smith Wealth Management’s portfolio, making the stock its 25th biggest holding. Sheets Smith Wealth Management’s holdings in NIKE were worth $8,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Iron Horse Wealth Management LLC raised its position in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. purchased a new stake in shares of NIKE in the 4th quarter valued at $29,000. Mizuho Securities Co. Ltd. lifted its stake in NIKE by 100.0% during the 4th quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock worth $37,000 after acquiring an additional 170 shares in the last quarter. NewSquare Capital LLC boosted its holdings in NIKE by 372.0% during the 4th quarter. NewSquare Capital LLC now owns 354 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 279 shares during the period. Finally, Raleigh Capital Management Inc. grew its position in NIKE by 134.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after acquiring an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Jefferies Financial Group reduced their price target on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. Evercore ISI decreased their price target on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Wells Fargo & Company cut their price objective on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Williams Trading reiterated a “sell” rating and issued a $85.00 target price (down from $92.00) on shares of NIKE in a report on Monday, March 18th. Finally, Bank of America upgraded NIKE from a “neutral” rating to a “buy” rating and upped their price target for the stock from $110.00 to $113.00 in a report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Stock Performance

Shares of NKE traded down $0.26 during mid-day trading on Friday, hitting $92.15. 5,736,711 shares of the company’s stock were exchanged, compared to its average volume of 8,740,078. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $127.69. The business’s 50 day moving average is $95.73 and its two-hundred day moving average is $103.04. The firm has a market capitalization of $139.09 billion, a P/E ratio of 27.10, a P/E/G ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. On average, equities analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.61%. NIKE’s dividend payout ratio is currently 43.53%.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.